Transcript
Peter Bosworth (00:00) hi, Leann. How are you?
Leann Duran (00:04) I’m well, how about yourself?
Peter Bosworth (00:06) I’m well, it’s been a very busy week, but all is well.
Leann Duran (00:12) Very good. Yeah, I think for us too for us too. Are?
Peter Bosworth (00:18) You in Texas or am I off on that?
Leann Duran (00:20) Yes, yes. Jim is in Addison… Dallas area, and I’m in, actually, I’m in Austin.
Peter Bosworth (00:31) Oh, nice. Cool. Yeah, yeah. Seems like Austin is the big kind of locale for a lot of these like startup off sites. And so we’ve been there a few times for.
Leann Duran (00:45) Work. Yeah, it’s cool. I recently moved to this area that is really busy and they have this like, you know, the wework and apple… and payment around here. It’s pretty cool.
Peter Bosworth (01:02) Yeah, I know it was kind of like funny when our last off site was in Austin and it was like, it was almost like a caricature of Austin. We were doing like the mechanical bull and we were eating just.
Leann Duran (01:17) Tacos, darn. It, darn it.
Peter Bosworth (01:21) The barbecue place, I forget stubbs. No, I,
Leann Duran (01:25) can’t remember something? Yeah, stubbs. Yeah, barbecue. Yeah.
Peter Bosworth (01:28) Yeah. So, it was the greatest hits.
Leann Duran (01:32) How funny. Yeah, that’s cool.
Peter Bosworth (01:36) Hi, Jim.
Jim Harvey (01:40) I was just commenting on the barbecue. I was like, I went to ut Austin. So I spent a few years in Austin and tried all the good barbecue and then Gus’s chicken. I think it’s Gus’s.
Peter Bosworth (01:55) Gus’s, chicken that’ll be on my list. I remember being blown away with the breakfast taco situation. I couldn’t remember migas or what are they called? I’m.
Leann Duran (02:02) not sure. Yeah, migas. Yeah, yes.
Peter Bosworth (02:05) That was my favorite.
Leann Duran (02:08) Sure.
Jim Harvey (02:09) Let me see if I’ve still got this pulled up. Are you, so you’re heading to Austin?
Peter Bosworth (02:15) No, I was just saying that we, do. We for medallion, we’ll kind of get together there once a year.
Jim Harvey (02:24) And.
Peter Bosworth (02:25) it’s always, well, we kind of sometimes we’ll do San Francisco but I definitely prefer Austin or I like them both.
Jim Harvey (02:30) Actually, yeah, yeah. Well, I think Austin.
Leann Duran (02:33) Well, I.
Jim Harvey (02:35) used to say that Austin, is a little more pedestrian friendly, but the last time I was in Austin, it was crazy.
Leann Duran (02:47) Yeah, it feels like it’s definitely not, it’s… anything. It’s it’s always a mental preparedness to go downtown or to, the dorms to get my daughter. It’s like you must be at your utmost attention to everything going around. You have walkers bikers scooters cars, and everybody thinks they own the road.
Jim Harvey (03:17) Yeah. It’s definitely a different city than it was in the early 19 nineties, I’m dating myself when I was there for college. So, the scooters.
Peter Bosworth (03:28) are kind of out of control there. Honestly. It was like,
Leann Duran (03:31) and now they have like, which is just stunning the, my daughter reference all the time, the waymo, cars, the driverless. Yeah.
Peter Bosworth (03:40) So,
Leann Duran (03:41) it’s it is even more interesting. She’s like we just got a waymo instead. And I was like, I guess, I feel good about that, you know, a driverless car, but it’s crazy.
Peter Bosworth (03:57) Yes. Okay.
Jim Harvey (04:01) So, we, sorry, go ahead.
Peter Bosworth (04:03) Jim.
Jim Harvey (04:03) let me share my screen real quick. So, just to make sure I’m, looking at this correctly, we over… consumed… in year one, what’s that,
Peter Bosworth (04:19) Correct. In year in year one?
Jim Harvey (04:21) We over consumed and Leann, do you think that was tied to our… know, we had a lot of growth that year. We didn’t so.
Leann Duran (04:32) Year one goes from 2000 October of 2024.
Jim Harvey (04:38) Yeah, through September of 25, we had some turnover.
Leann Duran (04:46) Oh, yeah. Well, the first thing that comes to my mind quickly is… the two additional full fully licensed clinicians that I don’t think were included with our original 103 50 per year. Okay. I don’t remember. So, it would be dr yelderman and dr katheria were two full time clinicians that were, are fully licensed that we added there. So.
Jim Harvey (05:23) They used to do their own, yes.
Leann Duran (05:27) Okay. And so, I’m thinking that has to account for… okay, considerable amount of.
Jim Harvey (05:43) Okay. And then, so, year to date, this year, we’ve.
Jim Harvey (05:55) hold on. We’ve under consumed. I guess I’m trying to figure out because I want to show this to dr brubaker who is our VP of medical, who dr Gustafson reports to and explain to her, Peter, that it’s sort of like the best way to explain this, or look at it with some context around our history. And then we can talk about where we’re going next. We have a call with her on Monday and I want to bring her up to speed. I’m thinking about the best way to explain this account usage chart.
Peter Bosworth (06:44) Yeah. So basically… to that end, like the story definitely begins in year one with overconsumption and I can a few things.
Peter Bosworth (06:57) Sorry. I’ve been in back to back calls. I have answers to your three questions also. But the, if it’s helpful like I can just kind of spruce this slide up a little bit more so that you can share it with them on your Monday call. But the… kind of takeaway here is that this number was four 37. And then, so 437 license renewals happened and… 53 imlc licenses.
Leann Duran (07:33) So, it was a total of, so, is that four 37 plus the 53?
Peter Bosworth (07:39) So, these are all, these are separate SKUs, with separate line items that contribute to that year one spend.
Peter Bosworth (07:49) So, yeah. So 437 licenses, license renewals were consumed at I believe one 30 was the unit price. And then these imlc post llq, these are 100 dollars.
Jim Harvey (08:06) Now, are those considered new or renewal as it relates to our contract language? Because our contract language doesn’t really talk about imlc license. It’s new renewal and then account renewal exactly.
Peter Bosworth (08:20) So, these aren’t a line item in your contract, and you can consume things that aren’t a line item in your contract. But so these are going to be new.
Jim Harvey (08:29) New. Okay?
Leann Duran (08:32) So,
Leann Duran (08:37) so we had, so those are going to be the post llq. You said those are going to be new and, but was that in the year of 10, that was in the first year?
Peter Bosworth (08:52) Ah, this is all year one. And then in year two, thus far, we can see what you’ve done in this year. So you’ve used 186 renewals… 41 post llq, three loqs?
Leann Duran (09:14) So the, for the first year, I’m curious to know that 53 that.
Leann Duran (09:26) I want to know… yeah, 53 post llq. So that has to be, that has to be renewals, right?
Peter Bosworth (09:40) I’m so what, sorry, I didn’t mean to do that. What you can do is like all of the consumption data, the historical consumption data is available to you here. I can export it in a way that’s most helpful. But yeah, if you’re trying to look at year one and see what exact requests contribute to the 69,000 consumption number, we can pull that.
Jim Harvey (10:11) That would be helpful for me in just, I’m trying to like get a like a snapshot of what our history is. And then, you know, at the provider level, what we were doing that usage?
Jim Harvey (10:28) Because I want to be able to be informed to explain it to others.
Peter Bosworth (10:35) Right. Like as in like year one was… a lot of growth… or, and it might not be that way going forward or something.
Jim Harvey (10:49) Yeah. So, you know, we’ve this year, we’ve we had some turnover. So we’ve been focused on licensing up or increasing the coverage for three of our physicians, dr Breland, dr, hausknecht, and dr magzuti, so that’s a lot of this year’s activities. It’s very recent and still probably falling into, the consumption. Then, you know, it’d be nice to kind of get an idea of like where our consumption was last year to provider level. I think that we’re based on what Leanne looked at, I think we’re at the right number at 410 for renewals that previously contracted 350 plus an additional 60 renewals. And I think unless we have some unexpected turnover, we’ll be fine for the 10 new licenses per contract year going forward. Okay? So the current contract year, we want to account for those licenses, the way you’ve got it laid out.
Peter Bosworth (12:05) Yeah. And so, sorry, Leanne, just to really tie the loop back those loqs, those can be renewals. And so they are renewals. I was just looking, so they are compact licenses, but they were renewed compact licenses, which makes.
Leann Duran (12:21) sense. Okay. Yeah. So yeah, I was just kind of like my gosh, what has happened? Because like for our first year that for our first year, we were kind of, we had maybe a maybe one to five new licensures that because they were just like so new to me, and so we didn’t really do any licenses that year. However within the last three months, we ordered like 40 new licenses. So, I was like, I can’t understand where we definitely surpassed our usage as far as just the new licensure portion, but.
Jim Harvey (12:58) That was kind of throwing me off. I was like, what did I do wrong?
Peter Bosworth (13:02) No, yeah. There are renewals. And so, Jim, sorry, you were giving the breakdown of like how you understand your consumption to look on a go forward basis. And so, and so were you saying? So basically what we had discussed was?
Peter Bosworth (13:26) The 146 license renewals… that are, yep. Yep. Okay.
Jim Harvey (13:34) And then in the pipeline.
Peter Bosworth (13:36) Yep. In the pipeline, and then the five… already requested that are in progress. And then these post loq, which would be renewals or new. You can decide how they are submitted.
Peter Bosworth (14:02) And then the, there’s like an 60 provider headcount or like the increase in 60 in each subsequent year was something we had discussed like you going up to 410 providers, I believe it was.
Jim Harvey (14:14) Yeah, that’s correct. And based on, I had a call this morning with dr Gustafson and Leann did some follow up evaluation of. We decided to, for some of our part time clinicians that are not giving us the kinds of hours that give us a return on investment. We’re going to cut some of their lower volume state renewals going forward and then focus on, you know, renewing for full time clinicians. And so in the end, we ended up just, Leann looked at what we would end up adding based on… clinicians’ current and anticipated to come on board. And then what we’re going to subtract going forward as far as like non renewals for our part time clinicians, and this, it lands right about here. So we should be okay with this.
Peter Bosworth (15:09) Okay.
Jim Harvey (15:12) And I see you already answered my question on the March 20 third through September thirtieth.
Peter Bosworth (15:19) Yeah. So that was incorrect. That was just a typo. Yeah. And then also, you had a question. So this number, I realize… why this doesn’t align with… the total subscription amount on your contract. And I realize it might be. So it is because there are two small growth agreements. One happened in November and one happened in January between medallion and concentra, and it might be like a different arm of the business or something or?
Jim Harvey (15:53) Oh, yeah. That’s the travel medicine, dr. Holder? Okay?
Peter Bosworth (15:57) Yeah. So they were like one was for 13, one was for 1913 119 100. Yeah… that makes sense. So it contributes to the total purchase amount because it’s one organization.
Jim Harvey (16:16) And then we’ll get invoiced for that 15,000 plus that’s the true up that we’ll pay basically in April.
Peter Bosworth (16:29) So, what would happen is this year… this total would be invoiced 30 days from signature.
Jim Harvey (16:43) Okay. And what we do with… our 44,000 current… annual subscription fee is we’ve put a monthly budget allocation across the year for that, and I’ll work with our financial lead to, you know, go ahead and pay the 38,000, but from a financial… perspective, see if we can just budget it out monthly going forward.
Peter Bosworth (17:22) Budget it out monthly in terms of the payment or?
Jim Harvey (17:26) The, in terms of our financials, we would pay it.
Peter Bosworth (17:31) Oh, I see what you’re saying, but you.
Jim Harvey (17:33) know, I’d rather that not hit like a single month. It may, we may have it hit our budget in April or may depending on the timing of the billing, but… I’m just going to work with our internal finance to see the best way to allocate that across our, my department’s budget.
Peter Bosworth (17:55) Okay. That makes sense to me. So in terms of like your call Monday with leadership, what do you need from me?
Jim Harvey (18:08) If you could give us just like if you could export some of those details… from year one as to the overconsumption… that would be helpful if that’s something you could do.
Peter Bosworth (18:26) Absolutely. So I can easily do that. And then in terms of like this agreement, what is kind of the buying process slash steps for execution? And how I can help?
Jim Harvey (18:44) So, if you’ll send me if you can maybe take it through March?
Jim Harvey (18:54) It doesn’t really matter when we sign it relative to that March 20 third, right? Like if we sign it on the thirtieth, or 30 first, would those dates need to change?
Peter Bosworth (19:07) It doesn’t no.
Jim Harvey (19:09) Okay. Alright. So, I think if you want to go ahead and send it, then I can send it to our… dirtbush in our… oh, I’m blanking on the name of it, procurement. Thank you. It’s been a long day. I’ve had a lot of meetings. So in our procurement department, he was involved in the original contract, and I just want him to be aware of this addendum and then I’ll go over it on Monday morning with dr brubaker and a couple other folks, and then we’ll get it executed… okay?
Peter Bosworth (19:54) And then I think in another email, we had mentioned Adam payr as a signer. Is that correct?
Jim Harvey (20:00) Actually, I looked at our contract, the original and I signed it.
Peter Bosworth (20:05) Yeah, you did. Actually, I don’t know why I had Adam payr?
Jim Harvey (20:08) Yeah, he might have signed the one with dr holzer. Okay. So, yeah, I can be the signature on it… and that’ll be that.
Peter Bosworth (20:26) Okay. So I’ll send you the export details of year one. I can also send you the export details of year two thus far, if that’s helpful. Okay? And then I’ll send you this agreement as… well as just a summary of our conversation.
Jim Harvey (20:49) Okay. Anything else?
Peter Bosworth (20:53) Anything else or that’s pretty much it? I?
Jim Harvey (20:56) Think that should wrap it up. I have much more clarity around everything now that I’ve had a chance to go over it the last time we talked, I was in the middle of several other projects and I was like, so.
Peter Bosworth (21:10) I know how that feels. Yeah. Well, excellent, well, keep an eye out for, yeah, an email from me with those exports and the agreement later today. Okay? Great.
Jim Harvey (21:24) I appreciate it, Peter. Anything else for me, Leann for Peter? No me. Okay? The.
Peter Bosworth (21:31) Only other thing from our end is just that the proposal does kind of we’re looking at if three 31 is a possibility. That would be great.
Jim Harvey (21:43) Yeah. I should be able to sign it on Monday. You’ll just send it electronically for signature, right?
Peter Bosworth (21:50) Yeah. Okay. Yeah. And what like basically just the way the tool works is that you’ll have it for signature today, but you’ll also have a PDF to like circulate.
Jim Harvey (22:01) Okay. One more question, Phil, just pull that screen back up real quick. What are you sharing? Oh, yeah.
Peter Bosworth (22:13) Sorry, I’m just submitting it for proof.
Jim Harvey (22:16) Okay.
Peter Bosworth (22:18) But here it is.
Jim Harvey (22:25) And so we’ve got the 130 per unit for the renewals, the imlc licensing. Just this might come up on Monday in my meeting that’s 650 per unit… that’s.
Leann Duran (22:42) a single letter of qualification, oh, the imlc license?
Jim Harvey (22:47) Okay.
Leann Duran (22:49) Well, that’s what I’m assuming it, is that correct?
Peter Bosworth (22:52) That’s correct. Yeah. And.
Leann Duran (22:53) that’s right for right now. I believe that’s it’s dr breeland’s.
Jim Harvey (23:03) okay. It.
Leann Duran (23:04) Because it, remember, I think you said that the loq could either be a renewal or a new license through the imlc?
Peter Bosworth (23:16) Sorry. So, yeah, the post loq can either be a renewal or a new license. The loq is, you know, your letter of qualification to join the compact and there’s one in progress right now and that’s why we’re capturing it here. So like we’re already, yeah, there’s one that we’re working on. Yeah.
Leann Duran (23:36) It’s this one, is becoming a problem… but I’m slowly but surely figuring it out. But I’m in the back end, there was there’s some issues?
Jim Harvey (23:50) Is that the dr holzer? It’s.
Leann Duran (23:52) the breeland? Oh,
Jim Harvey (23:54) breeland, you mentioned? Okay. So, in that line that aligns with our contract rate for new license applications. So, okay.
Peter Bosworth (24:06) Yeah, it’s exactly. It matches the new license application price. Okay?
Jim Harvey (24:13) All right. Okay. I appreciate it. Oh, one more question. One of the questions I had asked was what happens if we don’t use… you know, 410 licenses next year or the year after we use, you know, 375, is there like a reverse true up that occurs or?
Peter Bosworth (24:39) Yeah, good question. So, in the same way that you’re able to kind of basically yield the rollover to the subsequent contract year?
Jim Harvey (24:50) Okay. And then at the end of the contract, yeah.
Peter Bosworth (24:54) By the very end of the contract, if that, whatever’s it becomes a, if you haven’t used it, you lose it situation, but that would be like 20 29. Yeah, yeah.
Jim Harvey (25:06) Got it. Okay. And then it seems like there was one of that. Any other questions? Yeah.
Jim Harvey (25:27) I think that’s it. So. Okay. All right. Well, thank you. Thank.
Peter Bosworth (25:35) You both. Thanks for jumping on. And yeah, you’ll see an email from you later today?
Jim Harvey (25:39) Okay. Thank you all.
Peter Bosworth (25:41) Right. Thanks. Bye bye.